European Commission appoints 3 members to Ukraine Facility Audit Board

MOSCOW. Feb 13 (Interfax) - The European Commission has said that it has completed the formation of the Ukraine Facility Audit Board, appointing three experts in financial control and management, Ukrainian media reported, citing the Ukrainian Economy Ministry's website.

The decision was made on February 11, the ministry said.

Professor Marek Belka, a former president of the National Bank of Poland, was appointed chair of the board, it said. Gijs De Vries, an expert in audit and control, who has many years of experience in the EU financial institutions, was named deputy chair of the board. Gunnar Walzholz, who is a specialist in financial management and previously worked in international organizations, became a member of the board.

These appointments have completed the formation of the Audit Board, which will begin its work at full capacity in the near future, it said.

The format of the board's work envisages regular visits to Ukraine and permanent cooperation with the Ukrainian government and international partners to build confidence in the Ukraine Facility. The board's activity will be supported by a secretariat based in Kiev, which includes experts in management, control and audit.

The Audit Board will begin an assessment of the financial control system in the near future. The EC will provide regular updates on the board's performance and publish its conclusions and recommendations.

As reported, the European Union established the Audit Board in June 2024, which will be in place until the end of June 2028. The board's mission is to ensure transparency and efficiency of financial assistance under the Ukraine Facility, it said.

The Ukraine Facility deals with the EU's financial support for Ukraine.